Stepan company (SCL)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash Flows From Operating Activities
Net income

27,539

22,033

25,880

30,210

24,978

23,954

21,754

33,452

31,945

19,082

21,853

27,896

31,912

8,411

21,367

28,501

27,919

12,876

24,934

16,941

21,286

6,225

13,480

24,368

13,008

10,537

20,149

22,654

18,997

15,493

20,319

21,511

22,364

13,549

19,231

21,006

18,816

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

20,023

20,156

19,586

19,556

19,403

20,337

20,278

20,552

19,948

21,901

19,392

19,022

18,707

19,771

18,743

18,383

18,070

17,332

16,794

16,732

16,127

15,871

15,451

16,384

16,098

14,950

13,812

14,219

13,419

13,352

12,725

12,991

12,226

12,328

11,764

11,913

11,094

Deferred compensation

-7,323

3,662

1,610

2,395

7,473

-7,300

4,222

-865

1,614

-406

-129

5,016

376

4,210

7,441

2,434

2,720

5,272

-6,922

6,573

1,577

-21,658

4,090

5,417

248

-12,988

2,180

-3,621

4,933

3,990

1,305

1,458

3,499

4,240

-2,002

-329

-380

Realized and unrealized (gains) losses on long-term investments

-3,875

1,149

-324

726

2,404

-4,207

737

407

97

501

1,101

931

1,645

-568

925

101

-306

314

-935

111

531

-502

188

532

23

425

1,115

173

898

-257

707

-436

1,446

692

-1,286

-35

473

Stock-based compensation

1,202

1,827

2,273

2,176

2,596

115

3,335

1,155

2,232

903

1,697

3,166

1,385

4,563

3,607

2,025

2,423

1,413

-201

2,364

798

-538

-164

544

226

1,363

996

643

-219

2,373

-842

963

628

969

930

928

849

Deferred income taxes

131

-2,725

-2,514

2,080

-1,857

3,509

3,812

2,278

756

-8,133

4,391

198

2,543

-12,595

-1,977

3,463

2,683

2,894

2,060

-692

-1,261

3,310

261

3,586

-1,851

-2,534

2,630

2,687

-2,524

-3,255

2,851

1,352

-814

-934

1,144

3,192

1,654

Other non-cash items

-395

-48

70

-819

-1,443

-3,252

-540

-799

-31

-1,119

-766

-2,251

-721

-7,042

-20

-252

-20

-1,963

-1,359

-1,905

1,397

-3,752

-1,274

-1,661

-1,573

-1,382

-1,898

-2,265

-1,708

1,282

-1,368

-1,753

-916

-3,701

-183

-1,108

25

Changes in assets and liabilities:
Receivables, net

30,767

-13,853

2,091

-10,566

17,434

-40,003

10,838

-256

24,225

-21,355

4,016

13,434

20,263

-13,090

-3,316

-2,677

36,263

-14,498

9,659

-10,867

11,546

-9,758

-8,096

9,070

30,013

-28,396

-8,043

17,373

31,815

-9,437

-14,194

-3,621

23,346

-31,809

8,776

19,965

63,910

Inventories

447

-2,581

-10,364

716

-16,231

1,312

6,628

6,117

10,621

16,779

-16,266

-12,919

14,396

-8,711

3,821

3,390

5,274

-8,366

5,270

5,214

-4,969

-9,756

-2,337

17,369

13,245

-5,837

5,673

-12,530

16,488

6,118

16,164

4,756

23,222

-25,153

-17,081

34,061

21,027

Other current assets

3,180

-3,070

-231

734

3,247

-105

-285

-1,126

684

-142

-1,419

356

1,694

-1,779

643

-650

315

1,838

-866

735

1,703

-1,276

1,134

-642

-646

83

-22

4,792

1,097

24

1,036

-541

1,691

-3,281

1,941

2,603

983

Accounts payable and accrued liabilities

-16,583

20,246

-1,442

8,391

-42,279

-12,117

11,673

939

-19,518

36,348

5,905

2,407

-14,184

33,119

-3,444

23,432

-14,846

-2,727

20,560

-2,261

5,647

-12,751

-8,130

10,214

6,291

-329

-2,899

24,024

5,460

-653

12,405

-5,751

18,054

-27,135

-2,115

24,107

31,044

Pension liabilities

-236

189

-344

-243

-392

-6

-4,937

-6

-116

181

-2,083

69

-127

192

50

209

156

356

218

247

111

-442

-1,297

-504

-466

639

382

520

456

457

-3,152

-953

-693

-599

-976

-487

-408

Environmental and legal liabilities

-947

1,719

170

624

6

285

-284

-254

-225

-750

77

-493

24

4,063

-269

-70

837

105

-95

-1,498

90

2,826

4,177

-153

-357

298

-255

-368

-28

-351

142

-233

376

-264

-96

-215

-197

Deferred revenues

-157

269

-81

-81

-81

-81

-81

-81

-81

-282

-681

-81

-81

-282

-282

-282

-282

-282

-282

-586

-195

-183

-183

-183

-183

2,733

-102

-102

-101

0

0

-370

-292

-277

-307

-427

-463

Excess tax benefit from stock options and awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24

116

120

-

41

166

414

160

143

1,430

1,705

3,312

1,855

192

1,878

323

1,515

77

1,036

Net Cash (Used In) Provided By Operating Activities

-6,475

85,779

53,896

74,317

4,436

74,951

42,394

52,827

959

74,180

63,756

57,649

3,278

92,642

43,183

78,183

-1,846

60,174

45,273

44,416

33,852

37,699

29,849

24,005

-8,958

68,608

39,925

51,683

-9,902

30,934

41,269

32,085

4,681

64,806

33,891

4,125

-25,445

Cash Flows From Investing Activities
Expenditures for property, plant and equipment

33,202

34,743

25,745

19,343

25,741

23,752

19,154

16,383

27,358

20,711

19,571

17,935

20,396

33,315

29,065

21,356

19,340

29,021

36,307

25,726

28,295

39,406

23,350

18,560

20,503

25,788

25,105

20,992

20,980

22,304

20,057

19,476

21,322

22,144

20,622

17,922

22,478

Asset acquisition (Note 17)

2,040

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business acquisitions, net of cash acquired (Note 21)

-

-

-

-

-

1,377

0

0

21,475

0

0

0

4,339

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of product line (Note 21)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,262

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sale of mutual funds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

152

738

127

181

0

390

0

0

2

535

0

2

126

1,487

Other, net

-2,331

427

-309

14

-2,037

0

91

6

-1,781

-1,028

-1,425

297

1,887

1,147

-745

414

3,119

1,172

1,832

1,673

73

1,612

1,513

915

3,362

2,037

1,012

1,808

2,322

1,952

1,213

80

1,582

2,805

1,333

432

1,704

Net Cash Used In Investing Activities

-32,911

-44,170

-25,436

-19,357

-23,704

-25,129

-19,245

-16,389

-47,052

-19,683

-18,146

-18,232

-26,622

-57,972

-28,320

-21,770

-22,459

-30,193

-38,139

-32,532

-25,106

-41,908

-24,863

-19,323

-23,127

-27,698

-31,515

-85,433

-22,912

-24,256

-21,270

-19,554

-22,369

-24,949

-21,953

-31,790

-22,695

Cash Flows From Financing Activities
Revolving debt and bank overdrafts, net

-

-566

-657

-2,042

-4,230

4,666

-514

1,814

79

-

-

-

-

278

4,985

-383

-3,588

-2,561

-14,221

-23,676

14,241

11,255

874

2,401

-311

-1,592

-3,379

-7,751

17,542

3,463

-1,883

-2,784

1,974

-15,268

5,753

5,734

4,004

Build-to-suit obligation buyout

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-12,206

Other debt repayments

-

-

-

-

-

-

-

-

-

15,000

0

5,273

441

8,876

160

5,874

159

5,870

4,725

440

2,063

6,334

4,951

683

688

5,051

6,340

1,037

5,190

9,879

5,754

1,369

1,458

42,000

8,163

1,906

385

Dividends paid

6,202

6,186

5,626

5,642

5,643

5,632

5,065

5,068

5,092

5,066

4,616

4,619

4,606

4,597

4,255

4,240

4,237

4,233

4,006

4,014

4,047

4,006

3,789

3,792

3,800

3,796

3,571

3,565

3,542

3,523

3,086

3,076

3,072

3,047

2,828

2,819

2,819

Company stock repurchased

7,243

0

7,003

6,104

77

2,000

1,500

9,500

2,500

1,500

3,000

0

1,500

0

0

1,500

908

-

-

-

-

1,335

1,665

4,494

430

-

-

-

-

1,098

500

0

500

-

-

-

-

Stock option exercises

155

207

667

273

1,890

675

214

119

3,155

243

609

1,683

835

727

1,939

1,093

258

346

72

192

167

191

114

545

904

262

253

1,587

1,875

1,043

1,110

424

1,896

685

1,654

265

624

Payment to noncontrolling interest (Note 17)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,000

-

-

-

-

Excess tax benefit from stock options and awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24

116

120

-

41

166

414

160

143

1,430

1,705

11,162

-1,855

-3,948

1,878

323

1,515

77

1,036

Other, net

-1,128

-225

-445

62

-2,718

-281

-72

-37

-4,395

-589

-63

-100

-1,486

0

-40

0

-235

0

-398

0

-275

12

-300

-33

-100

-9

-111

-436

-1,059

-4,932

-2,452

2

-1,258

-398

-735

28

-1,293

Net Cash Used In Financing Activities

-14,418

-16,056

-13,064

-50,596

-10,778

-17,572

-6,937

-18,386

-8,753

-20,611

-7,158

-15,530

-7,198

-12,468

2,469

-10,904

-8,869

-12,578

74,746

-27,822

8,143

4,085

-9,676

-5,890

-4,011

-10,026

-13,006

87,954

11,331

-9,614

-10,710

-6,611

-2,540

11,669

-3,113

379

-11,039

Effect of Exchange Rate Changes on Cash

-7,240

3,835

-4,667

1,443

-689

-6,044

1,040

-5,897

533

908

1,830

2,122

2,608

-3,459

-743

-767

2,700

-1,717

-3,788

995

-4,796

-3,368

-3,051

936

-531

-625

809

-2,099

-622

156

843

-1,043

775

159

-2,010

142

724

Net Decrease in Cash and Cash Equivalents

-61,044

29,388

10,729

5,807

-30,735

26,206

17,252

12,155

-54,313

34,794

40,282

26,009

-27,934

18,743

16,589

44,742

-30,474

15,686

78,092

-14,943

12,093

-3,492

-7,741

-272

-36,627

30,259

-3,787

52,105

-22,105

-2,780

10,132

4,877

-19,453

51,685

6,815

-27,144

-58,455

Supplemental Cash Flow Information
Cash payments of income taxes, net of refunds/payments

3,316

7,633

9,803

8,877

3,018

7,783

5,451

16,394

3,345

3,284

4,089

12,685

5,603

12,004

7,503

10,341

733

9,224

5,687

9,793

-2,920

3,740

2,649

13,963

2,790

4,540

4,828

10,324

2,999

9,060

5,517

11,486

3,635

9,820

4,675

7,414

2,418

Cash payments of interest

2,122

2,939

2,147

5,033

2,131

4,276

2,109

4,373

2,071

4,776

2,012

4,937

2,164

5,138

2,150

5,318

2,124

5,562

335

5,611

435

5,684

542

5,758

463

5,799

729

4,101

652

4,267

1,008

4,304

912

2,614

1,911

3,038

1,084